Recent Activist Hedge Fund Moves: LMP Real Estate Income Fund Inc. (RIT); Remy International Inc (REMY)

H Partners Management employs a fundamental, bottom-up approach to select its investments. The hedge fund’s equity portfolio has a market value of around $1 billion and is made up almost exclusively of stocks of companies operating in the consumer discretionary industry. Furthermore, the investment firm only holds five equities, with its position in Six Flags Entertainment Corp (NYSE:SIX) accounting for more than 51% of its equity portfolio. H Partners also has a significant stake in Tempur Sealy International Inc (NYSE:TPX), holding the spot as the company’s largest institutional investor.

In mid-October H Partners Management disclosed it had gone activist on Remy International Inc (NASDAQ:REMY). While the hedge fund’s holding – which amounts to 8.75% of the company’s outstanding stock – remains unaltered, it has recently disclosed entering into a support agreement. According to the terms set forth in the agreement, H Partners will be allowed to attend all meeting held by Remy International’s Board of Directors and participate as a non-voting observer. Furthermore, the company’s management is expected to advance the nomination of the hedge fund’s nominee for the election to the Board, which is set to take place at the 2015 annual meeting.

Remy International Inc (NASDAQ:REMY) designs and manufactures rotating electrical components for automobiles and other vehicles. In addition to H Partners Management, the company is also backed by Jeffrey Bronchick’s Cove Street Capital, which owns 690,344 shares of common stock.

Disclosure: none.